Teranga to acquire 90% of Massawa project from Barrick for $430m.

Teranga, a gold company, agreed to acquire 90% of the Massawa project, a gold exploration project, from Barrick for $430m. Financial terms were not disclosed. The transaction is expected to close in the first quarter of 2020. "Teranga has the appropriate infrastructure and processing facilities approximately 25 kilometers away and combining the orebodies, and the geological prospectively will add further benefits. This is a good example of an instance where assets we own might be better suited in combination with others," Mark Bristow, Barrick CEO & President.